PLAYSTUDIOS (NASDAQ:MYPS) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

PLAYSTUDIOS (NASDAQ:MYPS) posted its earnings results on Monday. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01, Zacks reports. The business had revenue of $72.59 million for the quarter, compared to analyst estimates of $73.49 million. PLAYSTUDIOS had a negative net margin of 5.64% and a negative return on equity of 6.73%. During the same quarter in the prior year, the firm earned ($0.02) EPS.

PLAYSTUDIOS Stock Down 10.5 %

Shares of MYPS traded down $0.18 on Wednesday, hitting $1.53. The company’s stock had a trading volume of 349,162 shares, compared to its average volume of 282,298. The firm’s fifty day moving average price is $2.13 and its 200-day moving average price is $2.28. PLAYSTUDIOS has a fifty-two week low of $1.52 and a fifty-two week high of $4.01. The firm has a market capitalization of $206.25 million, a price-to-earnings ratio of -11.77, a P/E/G ratio of 7.07 and a beta of 0.63.

Analysts Set New Price Targets

MYPS has been the subject of several research analyst reports. Benchmark downgraded PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research report on Tuesday. Craig Hallum cut PLAYSTUDIOS from a “buy” rating to a “hold” rating and cut their price target for the company from $4.00 to $2.00 in a report on Tuesday. Finally, Northland Securities decreased their price objective on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.75.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games.